Chemed (NYSE:CHE) Releases FY 2024 Earnings Guidance

Chemed (NYSE:CHE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 23.300-23.700 for the period, compared to the consensus estimate of 23.520. The company issued revenue guidance of -. Chemed also updated its FY24 guidance to $23.30-23.70 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHE. Royal Bank of Canada upped their target price on Chemed from $604.00 to $712.00 and gave the company an outperform rating in a research note on Monday, March 4th. Oppenheimer lifted their price objective on Chemed from $625.00 to $650.00 and gave the stock an outperform rating in a report on Thursday, February 29th.

Chemed Price Performance

Shares of Chemed stock traded up $1.44 during trading on Wednesday, hitting $617.95. The stock had a trading volume of 67,370 shares, compared to its average volume of 77,478. The business has a fifty day moving average of $623.23 and a two-hundred day moving average of $590.47. The firm has a market cap of $9.34 billion, a P/E ratio of 34.47, a PEG ratio of 2.43 and a beta of 0.42. Chemed has a fifty-two week low of $492.84 and a fifty-two week high of $654.62.

Chemed (NYSE:CHE) last released its quarterly earnings results on Tuesday, February 27th. The company reported $6.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.25 by $0.35. Chemed had a return on equity of 32.29% and a net margin of 12.03%. The company had revenue of $585.90 million during the quarter, compared to the consensus estimate of $586.64 million. During the same quarter in the prior year, the company posted $5.39 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Chemed will post 21.99 earnings per share for the current year.

Chemed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.40 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.26%. Chemed’s payout ratio is presently 8.93%.

Insider Activity at Chemed

In related news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total transaction of $1,283,300.00. Following the completion of the sale, the executive vice president now directly owns 20,760 shares of the company’s stock, valued at approximately $13,320,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Spencer S. Lee sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $641.65, for a total value of $1,283,300.00. Following the transaction, the executive vice president now directly owns 20,760 shares in the company, valued at approximately $13,320,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian C. Judkins sold 11,158 shares of Chemed stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $645.00, for a total value of $7,196,910.00. Following the completion of the sale, the vice president now directly owns 1,422 shares in the company, valued at approximately $917,190. The disclosure for this sale can be found here. Insiders sold 15,808 shares of company stock valued at $10,184,531 in the last three months. Corporate insiders own 3.32% of the company’s stock.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.